Comcast (NASDAQ:CMCSA) Stock Price Up 1.7% on Earnings Beat

Comcast Co. (NASDAQ:CMCSA) traded up 1.7% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $38.54 and last traded at $38.50. 9,578,640 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 20,703,502 shares. The stock had previously closed at $37.87.

The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 10th. BNP Paribas restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Friday. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Comcast currently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Insider Buying and Selling at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of Comcast stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Luken Investment Analytics LLC increased its stake in Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 418 shares in the last quarter. Steph & Co. grew its holdings in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Comcast by 94.1% in the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock valued at $28,000 after buying an additional 302 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the 4th quarter worth $28,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Comcast in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $153.19 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.98 and a beta of 0.98. The stock’s 50 day moving average is $41.58 and its 200 day moving average is $42.57.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.